Antrim drills well in Argentina

Canadian-based Antrim Energy Inc. has drilled another successful oil well in its drilling program in the Springhill reservoir in Tierra del Fuego, Argentina. The new well, G-1001, encountered a water free gross interval of 10m in the Springhill reservoir and has been cased as a potential Springhill oil well. Net pay is estimated at 4.5 million with an average porosity of 18%. It is the 21st well drilled under the company’s current multi-well drilling program that commenced in September 2007, of which 20 have been cased for production. G-1001 was drilled on the Gaviotas Structure in the Angostura concession following interpretation of the company’s 3-D seismic program which covers parts of the Angostura and Las Violetas concessions. As previously announced, the company recently completed the acquisition of more than 137sq/km of 3-D seismic which is in addition to the current 661sq/km of 3-D coverage on the company’s concessions in Tierra del Fuego. The company expects to initiate production tests on G-1001 in the coming weeks. The drilling rig will now be moved to drill a step out well on the Las Violetas oil pool located approximately 40km to the SE of the Gaviotas Structure.
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